Tag Archives: Economic Support Package

Coronavirus Loan Schemes:UK businesses have borrowed over £46 billion

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UK businesses have now borrowed over £46 billion through the government-backed coronavirus loan schemes. These schemes are helping firms during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury. In total, £46.3 billion has now been lent to over 1.1 million businesses through the following schemes: Bounce Back Loan Scheme (BBLS) Coronavirus […]

Future Fund Scheme expanded for start-ups

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The government has expanded its Future Fund scheme for start-ups businesses. The reforms in scheme aim to support start-up businesses not eligible for other Coronavirus (Covid-19) rescue measures. The start-ups that have previously taken part in accelerator programmes can now easily access the Future Fund Scheme. However early-stage firms might continue to struggle. This means […]

Overseas VAT claims delayed: Covid-19

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The tax authority has stated that VAT claims submitted under the Overseas Refund Scheme will be subject to delays. HMRC has admitted that changes to its working practices, as a result of the pandemic, have resulted in delays in processing and refunding VAT claims. The delays relate to payments due to overseas businesses that are not […]

Bounce Back Loan Repayments: UK Finance warns firms

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  UK Finance has warned small businesses to consider their ability to repay a Bounce Back Loan before taking one out. They warned businesses after the publication of Treasury figures highlighting the popularity of the Bounce Back Loan Scheme. The scheme allows small businesses to apply for up to £50,000, with the government guaranteeing 100% […]

Bounce Back Loan Scheme : Coronavirus

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The government has announced a 100% government-backed Bounce Back Loan Scheme for small business to help them make it through the coronavirus outbreak.   What does the new Small Business Bounce Back Loan actually mean for small businesses?  Chancellor Rishi Sunak announced a new government-backed loan to support small businesses on Monday 27th April. The […]

Lenders offered 1.6 million payment holidays

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  Lenders have given over 1.6 million mortgage payment holidays to support customers impacted by Coronavirus, UK Finance revealed. Payment holidays are now covering 1/7 mortgages following lenders’ steps to help households. Coronavirus crisis has affected the finances of homeowners badly. For the average mortgage holder, the payment holiday amounts to £755 per month of […]

Tax consultation deadlines extended: Covid-19

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HMRC and the Treasury have extended their tax policy consultation deadlines. They have set out revised timelines for tax policy consultation and other work in the light of the current Covid-19 crisis. Government has extended the deadlines in order to allow more time for feedback but has declared that all planned reforms will still go […]

Chancellor expands loan scheme for large businesses

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The chancellor has expanded the government-backed Coronavirus Large Business Interruption Loan Scheme to cover all viable firms. Ahead of the scheme’s launch on Monday (April 20), Sunak unveils the final details of Coronavirus Large Business Interruption Loan Scheme. Who is eligible for the Coronavirus Large Business Loan Scheme? all viable businesses with turnover of more […]

Uinsure offers Two Years Commission Upfront

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  Uinsure has launched a new Covid-19 initiative to support mortgage advisors and their clients in these unprecedented times. They are offering two years commission upfront for advisers as part of a new Covid-19 support initiative. Uinsure will also pay any policy cancellation fees for clients.   Uinsure says remortgages and product transfers are still proceeding. […]

Melton launches desktop valuation service

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  The Melton Building Society is launching its new desktop valuation service for mortgages up to 90% loan-to-value. On the other hand, Swansea Building Society has increased its use of “drive-by” inspections. From tomorrow, Melton will allow desktop valuations on all cases that meet these criteria apart from new-builds. The new service will also be […]